Keyword: oil

Brevity: Headers | « Text »
  • Venezuela has the largest oil reserves. In the last three years its economy has collapsed (tr)

    12/17/2017 2:08:49 PM PST · by EdnaMode · 53 replies
    New York Times ^ | December 17, 2017 | MERIDITH KOHUT and ISAYEN HERRERA
    Kenyerber Aquino Merchán was 17 months old when he starved to death. His father left before dawn to bring him home from the hospital morgue. He carried Kenyerber’s skeletal frame into the kitchen and handed it to a mortuary worker who makes house calls for Venezuelan families with no money for funerals. Kenyerber’s spine and rib cage protruded as the embalming chemicals were injected. Aunts shooed away curious young cousins, mourners arrived with wildflowers from the hills, and relatives cut out a pair of cardboard wings from one of the empty white ration boxes that families increasingly depend on amid...
  • Trump Opens More U.S. Waters to Offshore Oil Drilling—So Grab the Fishing Poles!

    12/15/2017 9:47:24 PM PST · by Oshkalaboomboom · 11 replies
    Townhall.com ^ | Dec 16, 2017 | Humberto Fontova
    The Trump administration is preparing to unveil as soon as this week expansive offshore oil plan that would open the door to selling new drilling rights in Atlantic waters, according to people familiar with the plan… President Donald Trump his Interior Department to write the new blueprint with the aim of auctioning oil and gas drilling rights off the U.S. East Coast -- territory that his predecessor, former President Barack Obama, had had had had ruled out..” Don’t get me wrong! Cheaper energy and greater energy independence for our nation are nothing to sneeze at! But many of us familiar...
  • GOP Lawmakers Confront Trump Over EPA’s Unworkable Biofuels Mandate

    12/07/2017 9:17:00 PM PST · by Tolerance Sucks Rocks · 19 replies
    The Daily Caller ^ | December 7, 2017 | Chris White
    President Donald Trump will meet with a group of Republican lawmakers Thursday to discuss ways of addressing problems oil refiners have with the EPA’s biofuels mandate. Texas Sen. Ted Cruz is among nearly a dozen Republican lawmakers prepared to confront Trump over his administration’s refusal to ratchet down the biofuel standard. They want to find a way to lessen the impact the standards have on oil refiners. “President Trump will meet with senators today to discuss his commitment to the Renewable Fuel Standard and how to effectively address the program’s impact on independent refiners,” White House spokeswoman Lindsay Walters said...
  • Watchdog: Trump Offers Substantial Amount of Alaskan Reserve to Oil Companies

    12/05/2017 5:36:04 PM PST · by smileyface · 17 replies
    Sputnik ^ | Dec 6, 2017
    The Trump administration is offering oil companies all 10.3 million acres of available land on the reserve, the Center for Biological Diversity (CBD) said in a press release on Tuesday. The reserve is the single-largest parcel of public land in the United States. WASHINGTON (Sputnik) – The Trump administration has opened up a huge amount of land in Alaska’s National Petroleum Reserve for oil-sale leases, the CBD said. “Oil companies submitted lease bids on Monday for the largest oil-lease sale ever offered in Alaska’s National Petroleum Reserve,” the release said. “Bids will be open on Wednesday.” Trump just opened off...
  • Don’t Count On A Utah Shale Boom

    12/05/2017 8:23:21 AM PST · by bananaman22 · 24 replies
    Oilprice.com ^ | 12-04-2017 | Nick
    On Monday, President Trump announced his plan to shrink Bears Ears National Monument by 85 percent, while also cutting Grand Staircase-Escalante National Monument by half, a move that could open up Utah to more oil and gas drilling. More than 90 percent of the Bears Ears territory is thought to overlap with oil, gas and coal reserves, according to Bloomberg. Last year, EOG Resources, a prominent shale producer that is well-known in other shale basins, such as the Permian, is one of the few companies chomping at the bit in Utah. Last year, the shale driller won an approval from...
  • Oil drilling in ANWR moves ahead as part of Senate tax bill

    12/02/2017 9:31:39 AM PST · by GonzoII · 12 replies
    Washington Times ^ | Saturday, December 2, 2017 | Ben Wolfgang
    Republicans took a major step forward early Saturday in their decades-long fight to open a piece of the Arctic National Wildlife Refuge to oil drilling. Included as part of the sweeping tax reform bill passed by the Senate in a 51-to-49 vote is a highly controversial provision to allow energy exploration in a 1.5 million-acre swath of ANWR known as the “1002 area,” which lies along the coast. In total, ANWR spans more than 19 million acres. The drilling provision was seen as key to getting Sen. Lisa Murkowski, Alaska Republican, on board with the tax bill.
  • The Oil Information Cartel Is (Finally) Broken

    11/30/2017 10:18:05 AM PST · by bananaman22 · 6 replies
    Oilprice.com ^ | 30-11-2017 | Keith
    Most investors look at WTI and Brent prices at Bloomberg or CME Futures, and figure the oil price is in the public domain. You would be about 2 percent correct, because there are hundreds of different grades of oil, and hubs where it is bought and sold. And they all have different prices. Since the age of oil began until a few months ago, most real time oil prices were jealously guarded by marketers, who used it to their advantage in the daily multi-billion dollar physical oil trade. But I’m going to tell you the story of how Stafford and...
  • Keep your fracking sand out of our port (Commies block a port to stop fracking)

    11/27/2017 10:51:14 AM PST · by Titus-Maximus · 23 replies
    Socialist Workers ^ | 11/27/2017 | Brian Huseby
    SUPPORTERS OF Olympia Stand, a climate justice coalition in Olympia, Washington, has constructed an encampment blocking the railroad tracks to the Port of Olympia--under a banner reading "No Fracking Sand in Our Port." The purpose of the blockade is to prevent fracking sands, known as ceramic proppants, from being shipped from the port to the Bakken oil fields in North Dakota and other places. Hydraulic fracturing, or fracking, is the process of extracting oil and natural gas from source rock, primarily shale. This is done by pumping a mixture of fracking sands, and large amounts of water and chemicals into...
  • Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk

    11/20/2017 10:47:22 AM PST · by bananaman22 · 5 replies
    Oilprice.com ^ | 20-11-2017 | Paraskova
    Iraq’s security forces have found mass graves inside oil wells in an area in northeastern Iraq close to the oil-rich Kirkuk, and they believe the bodies are of civilians executed by ISIS, a security source told local media on Monday. Iraq will now collect DNA samples to identify the victims, the security source told The Baghdad Post. This is not the first time a mass grave has been uncovered by Iraqi forces who have recaptured almost all of Iraq’s territory formerly held by ISIS militants.
  • Saudi Sheikdown: Arrested Royals Offered A Deal - Your Money For Your Freedom

    11/16/2017 10:09:52 AM PST · by bananaman22 · 14 replies
    Oilprice.com ^ | 16-11-2017 | ZH
    As we noted shortly after the Crown Prince’s purge of potential rivals within Saudi Arabia’s sprawling ruling family, while the dozens of arrests were made under the pretext of an "anti-corruption crackdown", Mohammed bin Salman’s ulterior motive was something else entirely: Replenishing the Kingdom’s depleted foreign reserves, which have been hammered for the past three years by low oil prices, with some estimating that the current purge could potentially bring in up to $800 billion in proceeds. And, in the latest confirmation that the crackdown was all about cash, the Financial Times reports today that the Saudi government has offered...
  • UPDATE: New ANWR legislation passes by vote of 13-10

    11/16/2017 8:02:32 AM PST · by SpeedyInTexas · 24 replies
    KTUU ^ | 11/15/2017 | Leroy Polk
    Following spirited discussion on both sides of the issue, a vote was called at the Energy and Natural Resources committee hearing, regarding new legislation proposed by Sen. Murkowski. By a vote of 13 in favor and 10 opposed, the legislation passed out of the committee just after 8 a.m.
  • U.S. to Dominate Oil Markets After Biggest Boom in World History

    11/15/2017 12:20:50 PM PST · by Oatka · 51 replies
    Bloomberg via gCaptain ^ | Nov. 14, 2017 | Grant Smith
    <p>The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted. [snip] The boom will turn the U.S., still among the biggest oil importers, into a net exporter of fossil fuels.</p>
  • Ted Cruz pressures Iowa governor to reach deal on ethanol mandate

    11/14/2017 10:07:17 PM PST · by iowamark · 13 replies
    Washington Examiner ^ | Nov. 14, 2017 | John Siciliano
    Sen. Ted Cruz is pressuring Iowa Gov. Kim Reynolds to reach a deal between oil refiners and the ethanol industry over the Environmental Protection Agency's renewable fuel mandate. Cruz, speaking on behalf of a group of eight GOP senators, wrote in a Tuesday letter to Reynolds that they do not wish to up-end the market for corn ethanol produced in her state, which is the nation's top producer of the fuel. Instead, Cruz argued that the senators' real problem with the Renewable Fuel Standard is refiners being required to buy expensive renewable identification number credits, or RINs, to meet the...
  • Environmentalists take Norway to court over Arctic drilling

    11/14/2017 7:45:57 AM PST · by Olog-hai · 7 replies
    TheLocal.no ^ | 14 November 2017 13:35 CET+01:00 | AFP
    Representatives for Norway’s government appeared in an Oslo court on Tuesday after environmental groups including Greenpeace brought a case over drilling in the Arctic. Greenpeace, along with environmentalist youth group Natur og Ungdom (Nature and Youth), has sued the Norwegian state over licenses it awarded in 2016 for oil prospecting in the Barents Sea. The Scandinavian country is western Europe’s biggest oil producer. A third group, called the Grandparents Climate Campaign, has also joined the case against the state. The plaintiffs accuse Norway of violating the Paris Agreement on climate change and a section of the country’s constitution amended in...
  • U.S. DOJ Pledges To Prosecute Activists Who Damage Ships, Rigs & Pipelines

    11/13/2017 11:10:38 AM PST · by Oatka · 14 replies
    Reuters via gCaptain ^ | Nov. 12, 2017 | Timothy Gardner
    Excerpted as per rules (Reuters). The U.S. Department of Justice on Friday pledged to prosecute protesters who damage oil pipelines and other energy infrastructure, a move that could escalate tensions between climate activists and the administration of President Donald Trump. The Rest
  • Default day looms for cash-strapped Venezuela

    11/12/2017 3:22:38 AM PST · by BeauBo · 18 replies
    Daily Times ^ | NOVEMBER 11, 2017 | Agencies
    Venezuela slipped inexorably towards a formal debt default Friday, with analysts saying it was all but inevitable for the sinking OPEC state... “One way or another, the government and PDVSA will default. We are in the end-game and it’s now become a matter of days, not weeks, until default is confirmed,” Edward Glossop of Capital Economics said in a note. A default would immediately cut Venezuela off from international financial markets, removing its capacity to borrow. Greatly complicating its situation, Washington has banned it from any new debt transactions in the US market.
  • Baghdad Agrees To Ship Kirkuk Oil To Iran

    11/12/2017 1:35:44 AM PST · by BeauBo · 22 replies
    OilPrice ^ | 10 Nov 2017 | Zainab Calcuttawala
    Tehran and Baghdad have reached an agreement on a plan to export oil from Kirkuk in northern Iraq to Iran... Until recently, all oil from the fields around Kirkuk was shipped to the Turkish port of Ceyhan via a pipeline owned and operated by the Kurdistan Regional Government. ...With the Kurdistan autonomous region heavily dependent on oil revenues, chances are the government will seek to come to a mutually beneficial agreement with the central government in Baghdad.
  • Peak Oil? Majors Aren’t Buying Into Threat from Renewables

    11/10/2017 11:04:04 AM PST · by Oatka · 14 replies
    Reuters via gCaptain ^ | Nov. 9, 2017 | Ernest Scheyder and Ron Bousso
    Link only (Reuters)
  • The New Age of Trump Oil

    11/10/2017 10:36:22 AM PST · by brownwill6767 · 12 replies
    Recently, President Donald J. Trump joined Energy Industry Executives, members of Congress, and Cabinet Officials at the Department of Energy to deliver remarks on unleashing America’s boundless capacity for energy production. “We’re here today to usher in a new American energy policy,” he declared. The President explained that his focus isn’t so much on “energy independence,” but rather dominance. In fact, the program is being called “American Energy Domination.”
  • Is Saudi Arabia Lying about Its Oil Inventories?

    11/09/2017 7:38:25 AM PST · by bananaman22 · 20 replies
    Oilprice.com ^ | 09-11-2017 | Irina
    Saudi Arabia’s reports about declining crude oil inventories were instrumental in the buildup of trust on the market that OPEC’s—and the Kingdom’s specifically—efforts to rebalance crude oil’s fundamentals were working. Now, a satellite imaging company, Orbital Insights, is challenging these reports, suggesting that OPEC’s leader may have well been lying to get prices higher. While this would not exactly be a surprise, it would throw a stone in the quiet waters of the official OPEC narrative that has played a lead role in several oil price rallies so far this year. And here’s the size of this stone: Orbital satellite...